Statistics About The Average Income In Philadelphia

In this post, we will explore a comprehensive overview of the average income trends and income distribution in Philadelphia. The statistics reveal the varying income levels across different demographics, shedding light on the economic landscape of the city. From household incomes to wage disparities and poverty levels, these data points provide valuable insights into the financial dynamics of Philadelphia.

Statistic 1

"As of 2019, the median household income in Philadelphia was $45,927."

Statistic 2

"The average household income in Philadelphia grew 31.5% between 2010 and 2019."

Statistic 3

"In Philadelphia County, the average per capita income for a worker was $33,392 in 2019."

Statistic 4

"The income inequality in Philadelphia (measured using the Gini index) is 0.522 which is higher than the national average."

Statistic 5

"The median income for people under 25 years old in Philadelphia is $16,851."

Statistic 6

"The median income for people aged 25-44 in Philadelphia is $44,762."

Statistic 7

"The median income for people aged 45-64 in Philadelphia is $47,193."

Statistic 8

"The median income for people over 65 years old in Philadelphia is $26,844."

Statistic 9

"Philadelphia has 16% of households with income below $15,000 a year."

Statistic 10

"Philadelphia has 19% of households with income over $100,000 a year."

Statistic 11

"Female-to-Male wage disparity in Philadelphia is 0.82, meaning women earn 82 cents for every dollar men earn."

Statistic 12

"The average income of a Philadelphia resident increased from $22,222 in 2015 to $27,924 in 2019."

Statistic 13

"Philadelphia median household income is 19.7% lower than the median Pennsylvania household income and 37.9% lower than the US median household income."

Statistic 14

"The median income for a family of four in Philadelphia is $65,100."

Statistic 15

"As of 2019, the income cutoff for a family of four to be considered low-income is $56,050."

Statistic 16

"15.5% of people in Philadelphia have an income below the poverty level, higher than the national average of 13.4%."

Statistic 17

"The average income for a Philadelphia householder living alone is $38,054."

Statistic 18

"Median price-to-income ratio in Philadelphia is 2.98, implying it would take approximately three years of the median annual income to pay for the median home price."

The statistics on income in Philadelphia reveal a complex landscape of disparities and challenges. While the average household income has shown growth over the past decade, income inequality remains a significant issue, with a Gini index higher than the national average. The data also highlights disparities across different age groups, with younger individuals and those over 65 facing lower median incomes. Additionally, a considerable portion of Philadelphia’s population struggles with low income and poverty levels, surpassing national averages. The city’s median household income falls below state and national averages, indicating a need for targeted interventions to address economic disparities and improve financial well-being for all residents.